23 Sep 2024 12:13 pm
****!maineman » 23 Sep 2024, 10:29 am » wrote: ↑ I am aware of all that. I am also aware that, in the home appliance market, every other country beyond China is a bit-player in terms of the volume of production.
The fact remains that tariffs are ALWAYS effectively passed on to the consumer after they are paid by the importer and NEVER paid by the country of origin.
What's your degree in @Zeets2 ?
You've got a one-dimensional mindset of how Trump's tariffs have affected our international trade.
If a country like China is hit with new tariffs as they were under Trump, importers have switched suppliers and are now importing the same finished products from Mexico instead of China, and China has been relegated to merely selling some parts for those products they previously assembled themselves when they were able to ship finished products to the US.
Isn't that exactly what I said, nitwit?Tariff Tracker: Tracking the Economic Impact of the Trump-Biden Tariffs
June 26, 2024 By: Erica York
- An October 2019 study by Alberto Cavallo and coauthors found tariffs on imports from China were almost fully passed through to US import prices but only partially to retail consumers, implying some businesses absorbed the higher tariffs, reducing retail margins, instead of passing them on to retail consumers.
So tell me now, genius.Trump’s Tariffs Have Had Strange And Mostly Favorable Effects.
Forbes by Milton Ezrati May 8, 2024
In order to avoid the tariffs, Chinese industry has shifted emphasis from domestic operations to facilities in other Asian venues and in Latin America. Especially Mexico, Columbia, Vietnam, Indonesia, and the Philippines have gained. This trend has denied the Chinese economy the capital investment, productive facilities, and the employment growth it might have enjoyed were it not for the tariffs. The shift has occurred gradually over the six years since the Trump’s move and has grown to something significant. Mexico holds two great lures to these migrating Chinese operations. It has business-friendly policies and is close the huge U.S. market. And recent figures capture the results. In just the first two months of this year, for instance, capital investment in Mexico has proceeded at three times the pace of 2020. Not all of it is Chinese money, but much is. This is not all. According to the Mexican Association of Industrial Parks, foreign manufacturing, much of Chinese ownership, has booked all sights around Monterey, close to the U.S. border, out to 2027. Mexican exports have risen some 6 percent over the past year, and in 2023, Mexico, for the first time, surpassed China to become the largest trading partner of the United States.
You still don't think that Trump's tariffs have cost China anything despite the fact that they have now been surpassed by Mexico who has become our largest trading partner?